U.S. Trade Deficit Grows Nearly 12%

The U.S. trade deficit increased 11.6 percent in March, bringing it up to $44.4 billion, a $4.6-billion rise from February.

Meanwhile, the year-over-year increase in the trade deficit for the period was up 17.8 percent. The March deficit was reportedly the largest since December 2018.

Reuters reported: “Global lockdowns have severely disrupted supply chains and also weighed on demand for goods and services, shrinking economic output,” due to COVID-19.